logo
Plus   Neg
Share
Email

Continental: Supervisory Board Supports Technological Transition - Quick Facts

Continental AG (CTTAY.PK) said its Supervisory Board has approved the structural adjustments at the locations in Roding and Limbach-Oberfrohna (Germany), Newport News (U.S.A.) and Pisa (Italy). The Supervisory Board also approved the structural adjustment at the Babenhausen location in Germany. Certain research and development activities in Babenhausen will be transferred to other locations by the end of 2021.

Continental AG said, with these approvals, the company will push ahead with the announced Transformation 2019-2029 program as planned.

Also, the company's management informed the Supervisory Board that discussions will be held with the local works council in Rubí (Spain) about the future prospects of the location.

Continental's CEO Elmar Degenhart said: "With its resolutions today, the Supervisory Board is supporting our urgently needed technological transition. We are focusing on profitable growth areas. These include assisted, automated and connected driving; services for mobility customers; and the tire, industrial and end-customer businesses."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Biotechnology company Seattle Genetics, Inc. (SGEN) and Japanese pharmaceutical company Astellas Pharma Inc. (ALPMY, ALPMY) announced Friday that a phase 3 trial of PADCEV (enfortumab vedotin-ejfv) met its primary endpoint of overall survival compared to chemotherapy. The results were reviewed by... MWE Investments is recalling dual fuel portable generators citing fire risk, according to the U.S. Consumer Product Safety Commission. The recall involves about 7,500 units of Westinghouse WGen5300DFv Dual Fuel Portable Generators and Westinghouse iGen4500DF Dual Fuel Inverter Portable Generators. According to the agency, the dual fuel portable generators can leak fuel. Apple Inc. (AAPL) will launch an online store in India on September 23, offering the tech giant's full range of products and support directly to customers across the country for the first time.
Follow RTT